| IT'S THE LAW! |
| Able Auctions is committed to obeying the law as well as educating the public of the rules and regulations of public auctions. If this page doesn't change from time to time, call or write Virgil and tell him to get on the ball. |
| N.C. G. S. 25-2-328 (2) A sale by auction is complete when the
auctioneer so announces by the fall of the hammer or in other
customary manner. Where a bid is made while the hammer is falling in
acceptance of a prior bid the auctioneer may in his discretion
reopen the bidding or declare the goods sold under the bid on which
the hammer was falling. |
| If the auctioneer says sold, and a ring man says, "I have this
person at the same price". It is illegal to reopen the bid after the auctioneer says "SOLD" |